used by the Tax Foundation to illustrate just how much of our hard-earned money goes to taxes before we get our cut, is here for Georgians.Tax Freedom Day,
The Tax Foundation, a non-partisan research think tank based in Washington, DC, calls Tax Freedom Day "a vivid, calendar-based illustration of the cost of government."
In Georgia, the big day is April 12. That means, in theory at least, that what you've earned up until April 12 goes toward taxes. Or, looking at the bright side, everything earned from April 12 until the end of the year, also in theory, is yours.
Tax Foundation economists calculate Tax Freedom Day using federal budget projections, data from the U.S. Census and the Bureau of Economic Analysis, and projections of state and local taxes.
Higher-income and higher-tax states hit their mark later. Residents of Louisiana bear the lowest average tax burden in 2014—Tax Freedom Day arrived for them March 30.